Board of the Pension Protection Fund Invests $375,000 in Targa Resources Corp. (NYSE:TRGP)

Board of the Pension Protection Fund bought a new stake in shares of Targa Resources Corp. (NYSE:TRGP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,100 shares of the pipeline company’s stock, valued at approximately $375,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL bought a new position in shares of Targa Resources in the second quarter worth about $29,000. DT Investment Partners LLC purchased a new stake in Targa Resources in the 3rd quarter worth approximately $29,000. Prospera Private Wealth LLC bought a new stake in Targa Resources during the 3rd quarter worth approximately $35,000. Rosenberg Matthew Hamilton raised its stake in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after acquiring an additional 89 shares during the period. Finally, Huntington National Bank lifted its holdings in Targa Resources by 22.9% during the third quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock valued at $71,000 after purchasing an additional 89 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TRGP. The Goldman Sachs Group raised their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Scotiabank began coverage on Targa Resources in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price objective for the company. Stifel Nicolaus increased their target price on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Bank of America started coverage on Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price target on the stock. Finally, Barclays increased their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $189.21.

Insider Transactions at Targa Resources

In other news, CAO Julie H. Boushka sold 3,260 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the transaction, the chief accounting officer now directly owns 35,143 shares in the company, valued at $6,703,175.82. This trade represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider D. Scott Pryor sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the sale, the insider now owns 82,979 shares in the company, valued at approximately $15,793,393.07. This represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.44% of the company’s stock.

Targa Resources Stock Performance

Shares of TRGP stock opened at $200.89 on Wednesday. Targa Resources Corp. has a 52-week low of $81.03 and a 52-week high of $209.87. The company’s 50 day moving average is $190.21 and its 200 day moving average is $162.26. The firm has a market cap of $43.81 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 0.73 and a beta of 2.30. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP) last posted its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. On average, sell-side analysts anticipate that Targa Resources Corp. will post 6.26 EPS for the current fiscal year.

Targa Resources Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.